RANCHO CUCAMONGA, California – Results of the NACUSO Next Big Idea 2020 competition show that the spirit of innovation – as well as the cooperative spirit – of the credit union movement is advancing full-speed in spite of the pandemic.
“The Final Four” to this year’s competition was held on October 27, with NetGiver emerging as the winner, as selected by attendees to this year’s culminating round. NetGiver’s first place finish earned it $7,500 in prize money, furnished by CO-OP Financial Services. Posh Technologies finished in second place, earning $2,500, also provided by CO-OP.
The Final Four and their ideas included:
Facilitating the final day’s event was the moderator, Guy Messick, of Messick Lauer & Smith P.C. The four judges included:
“We are energized by the growing boldness for innovation that’s emerging within the movement,” said Dragt. “By providing this platform for big thinkers in our industry, NACUSO is nurturing ingenuity that puts people first. We congratulate not only the two organizations that came away with cash prizes, but all of the entrants in NACUSO Next Big Idea 2020.”
Criteria for the Next Big Idea are initiatives to improve earnings, enhance member service, deliver new products and services to members and improve delivery channels to members. The innovations can be at various stages of development, including early stage and in need of investment, ready to be delivered or already in motion and are growing and changing the industry.
“We thank CO-OP once again for their continued support of NACUSO, and the Next Big Idea 2020 competition in particular,” said Jack Antonini, CEO of NACUSO. “The cash prizes – the first time they have been offered – no doubt played a role in the record number of entries we received.”
For more information on the CO-OP ecosystem for credit unions and their members, visit www.co-opfs.org/Solutions. For more information on upcoming NACUSO events, visit www.nacuso.org.
About the National Association of Credit Union Service Organizations (NACUSO)
NACUSO was formed in 1984 to help credit unions explore the use of CUSOs and the delivery of non-traditional products and services. Over the years, NACUSO’s focus has evolved to helping credit unions form multi-owned CUSOs and participate in collaboration and the cooperative business model. NACUSO’S core purpose is to be the leader of innovation, collaboration and advocacy for CUSOs and the credit union industry. For more information, visit www.nacuso.org.